NFTs Drive List of Fastest-Growing Protocols on Ethereum

Covalent X Arbitrum Nova: Up-to-date Data For Developers

Covalent, a provider of deep, granular, and historic blockchain data, has announced a collaboration with Arbitrum Nova to improve data availability for developers building next-generation gaming apps with social applications within the Arbitrum ecosystem. 

Protocols, institutions, and dApp developers highly value Web3 data and analytics. The Covalent developers claim their data collection process ensures the most up-to-date information retrieval from 90+ blockchains and alternative sources (app chains, L2s, etc.).

“With Covalent’s Unified API, developers can access deep, granular, and historical Arbitrum Nova data, including historical transactions per address, decoded log events, and much more,” David Tso, Growth & Customer Success Manager at Covalent told BSC News. “This data facilitates chain analysis and helps builders effortlessly repurpose their technology from Ethereum to the Arbitrum ecosystem.” 

Meanwhile, Arbitrum Nova enables Covalent users to build and analyze data in this developing space by accelerating the development of Web3 social applications.  

“When we launched Arbitrum Nova, we envisioned it as a supported environment where developers could create exceptional gaming and social dApps,” said David Bolger, Partnership Manager at Offchain Labs.

Moreover, in January, NFT giant OpenSea announced that it would support Arbitrum Nova, allowing users to buy or sell NFTs cheaper than Ethereum. 

The DeFi ecosystem on Arbitrum shows promise, especially in decentralized derivatives trading. The Layer-2 network also surpassed Ethereum in terms of daily transactions on February 21, when it reached 1.1 million transactions, about 20,000 more than Ethereum. 

At the time of writing, Arbitrum has a total volume locked of $3.02 billion, with decentralized spot and perpetual exchange GMX dominating 31.2%. 

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What is Covalent: 

Covalent provides the industry-leading Unified API, allowing Web3 data points to be visible. Covalent is used by developers and analysts to create multi-chain applications such as crypto wallets, NFT galleries, and investor dashboard tools that use data from 94+ blockchains. 40,000+ developers rely on Covalent to power data for more than 5,000 applications, including 0x, Zerion, Rainbow Wallet, Rotki, Bitski, and many others.

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Learn more about Covalent:

Website | Twitter | Discord | Telegram

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What is Arbitrum Nova:

Arbitrum Nova is a blockchain service provided by Arbitrum that combines ultra-low transaction costs with high security. The chain employs AnyTrust technology, a variation of Arbitrum Nitro technology that accepts a mild trust assumption in exchange for low end-user fees.

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Learn more about Arbitrum Nova:

Website | Twitter | Discord 

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